Indiana's property tax cap question passes

9:21 PM,
Nov. 2, 2010

Written by

STAFF REPORTS

Hoosier voters have approved a constitutional amendment that will add property tax limits to the Indiana Constitution.

The tax referendum will limit property tax bills to 1 percent of a home's assessed value, 2 percent on farmland and rental property and 3 percent on business property.

The bill will not, however, provide immediate tax relief to taxpayers. Because the tax referendum is already in law, 2010 property tax bills were filed under the conditions of the proposed amendment. ...